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Phillips 66 (PSX)
Enterprise Value to FCFF (EV/FCFF)
Medium level of difficulty
Free Cash Flow to The Firm (FCFF)
Phillips 66, FCFF calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).
1, 2 See details »
| Item | Description | The company |
|---|---|---|
| FCFF | Free cash flow to the firm is the cash flow available to the Phillips 66’s suppliers of capital after all operating expenses have been paid and necessary investments in working and fixed capital have been made. | Phillips 66’s FCFF increased from 2016 to 2017 and from 2017 to 2018. |
Interest Paid, Net of Tax
Phillips 66, interest paid, net of tax calculation
US$ in millions
Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).
2 2018 Calculation
Cash payments, interest, tax = Cash payments, interest × EITR
= × =
3 2018 Calculation
Interest capitalized, tax = Interest capitalized × EITR
= × =
Enterprise Value to FCFF Ratio, Current
Phillips 66, current EV/FCFF calculation, comparison to benchmarks
| Selected Financial Data (US$ in millions) | |
| Enterprise value (EV) | |
| Free cash flow to the firm (FCFF) | |
| Valuation Ratio | |
| EV/FCFF | |
| Benchmarks | |
| EV/FCFF, Competitors1 | |
| Chevron Corp. | |
| ConocoPhillips | |
| EOG Resources Inc. | |
| Exxon Mobil Corp. | |
| Occidental Petroleum Corp. | |
| EV/FCFF, Sector | |
| Oil & Gas Producers | |
| EV/FCFF, Industry | |
| Oil & Gas | |
Based on: 10-K (filing date: 2019-02-22).
1 Click competitor name to see calculations.
If the company EV/FCFF is lower then the EV/FCFF of benchmark then company is relatively undervalued.
Otherwise, if the company EV/FCFF is higher then the EV/FCFF of benchmark then company is relatively overvalued.
Enterprise Value to FCFF Ratio, Historical
Phillips 66, historical EV/FCFF calculation, comparison to benchmarks
| Dec 31, 2018 | Dec 31, 2017 | Dec 31, 2016 | Dec 31, 2015 | Dec 31, 2014 | ||
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| EV/FCFF3 | |
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| EV/FCFF, Competitors4 | ||||||
| Chevron Corp. | |
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| ConocoPhillips | |
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| EOG Resources Inc. | |
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| Exxon Mobil Corp. | |
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| Occidental Petroleum Corp. | |
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| EV/FCFF, Sector | ||||||
| Oil & Gas Producers | |
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| EV/FCFF, Industry | ||||||
| Oil & Gas | |
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Based on: 10-K (filing date: 2019-02-22), 10-K (filing date: 2018-02-23), 10-K (filing date: 2017-02-17), 10-K (filing date: 2016-02-19), 10-K (filing date: 2015-02-20).
3 2018 Calculation
EV/FCFF = EV ÷ FCFF
= ÷ =
4 Click competitor name to see calculations.
| Valuation ratio | Description | The company |
|---|---|---|
| EV/FCFF | Enterprise value to free cash flow to the firm is whole company valuation indicator. | Phillips 66’s EV/FCFF ratio declined from 2016 to 2017 and from 2017 to 2018. |